• AUD/USD grinds higher around intraday peak, up for the second day from monthly low.
• Two-week-old resistance line, 200-HMA guard further advances.
• Bears need 0.7300 breakdown to aim for September’s low.

AUD/USD remains sidelined near 0.7345, up 0.13% on a day ahead of Monday’s European session.

Even so, the Aussie pair stays above 100-HMA while keeping the previous day’s rebound from the monthly low.

Given the bullish MACD signals and the HMA break, AUD/USD buyers are hopeful to poke a downward sloping resistance line from November 02 near 0.7360.

Following that, the 200-HMA level of 0.7377 and the 0.7400 threshold will test the pair’s upside momentum before directing it to the November 08-09 peak of 0.7430.

Alternatively, pullback moves remain less worrisome until staying beyond the 0.7300 round figure. However, any further weakness past 0.7300 won’t hesitate to challenge September’s bottom near 0.7170.

During the fall, the latest trough surrounding 0.7275 may act as an intermediate halt.

AUD/USD: Hourly chart

Trend: Further upside expected